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Home Equity Loan Question

Hi, I lost my job a little over two years ago as a Systems Admin and have not been able to find a job.  I have roughly $25,000 in debt that I have been keeping up my payments on using unemployment, which is no longer available as well as my 401K which is now gone.  I own a Condo which I have no mortgage on and good credit.  My wife makes $46,000 and has bad credit due to a previous divorce.  Do you think a bank would give me a loan of $25,000 on my Condo worth roughly $140,000 for debt consolidation based on the info I gave?
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October 16 2013 - Danvers
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Answers (3)

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That may be tough but you can definitely ask.
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October 17 2013
Profile picture for dolphinscry09
Thanks for the reply.  I would be also have her on the loan as I understand that she has the employment and income and I have the equity and credit.  I'm not sure of her credit score at the moment.
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October 16 2013
If you were only applicant - no  ( as lenders will need income / employement )

What are your wifes credit scores ?


check with the bank you bank with  and maybe soem smaller local credit unions  as  you may find  soem  assistance  with these outfits
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October 16 2013
 
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